The 4th Bitcoin Halving Event Takes Place

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One of the most anticipated events for the digital asset market has officially taken place on Saturday 20, 2024, with the circulating supply of BTC being sliced in half.

Bitcoin Halving is an event where the reward for mining new blocks is Halved, reducing the rate in which new bitcoins are created.

Past events of Bitcoin Halving.

Bitcoin Halving occurs approximately every four years or after every 210,000 blocks are mined.

• The first Bitcoin halving took place in November 2012, reducing the block reward from 50 BTC to 25 BTC.

• The second halving occured in July 2016, reducing the rewards to 12.5 BTC per block.

• The third halving happened in May 2020, cutting the rewards to 6.25 BTC.

• The 4th halving happens this year April 2024 further reduce the rewards to 3.125 BTC.
  

Bitcoin Halving event are significant because they can affect Bitcoin's supply and demand dynamics, potentially influencing its price. Many crypto analysts and investors always bullish during this halving events as they are often associated with increased volatility in the Bitcoin market.

Halving is part of Bitcoin's deflationary monetary policy, which limits the total supply of Bitcoin's to 21 million and increase it price.

Bitcoin Halving Price History

• Year 2012= $12 (halving), $964 (1 year later)
• Year 2016= $663 (halving), $2,550 (1 year later)
• Year 2020= $8740 (halving), $55,801 (1year later)
• Year 2024= $64,276 (at halving), 

Now all eyes are going to be fixed on how this year halving will impact the price of Bitcoin.

What is your prediction for the next bull run?

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